RATING

RECOMMENDATION

Strong Buy

  • Martin and Harris Laboratories
  • ₹2,152.00

  • PLACE ORDER
  • ROFR Required
  • Available in Depository:

  • NSDL

  • CDSL

  • Available for Investment:

  • Primary

  • Secondary

RATING

RECOMMENDATION

Strong Buy

Business Type

Emerging Leader

RATING

RECOMMENDATION

Strong Buy

Business Type

Emerging Leader

Discover and get a complete analysis on Martin & Harris Laboratories Limited - Management, Business Model, Financials, Growth, Valuations, Funding Rounds, News and get latest updates on Martin and Harris Upcoming IPO.

ISIN

INE03VV01015

Face Value

₹10.00

Total Share

39,96,040

Total Income

₹335.62 Crores

Profit After Tax

₹176.87 Crores

EPS

₹442.60

P/E

4.86

P/B

2.41

Market Capitalisation

₹859.95 Cr

Enterprise Value

₹762.87 Cr

Book Value

₹894.30

Dividend Yield

0.16 %

Earnings Yield

20.57 %

Sector

Health Care

Sub-sector

labs & Life Science Services

Category

Small Cap

Cashflow - Operations

-₹170.17 Crores

Cashflow - Financing

-₹9.60 Crores

Martin & Harris Growth

Compounded Sales Growth

  • -37.27%

    1 Year

  • 0.23%

    3 Year

  • 5.67%

    4 Year

Pro Only

Compounded Profit Growth

  • 1289.73%

    1 Year

  • 56.25%

    2 Year

  • 57.23%

    4 Year

Pro Only

Return On Equity

  • 49.49%

    2021

  • 33.00%

    2019

  • 38.97%

    2018

Pro Only

About Martin & Harris

  • Martin & Harris Laboratories Ltd is a pharmaceutical, medicinal chemical, and botanical product manufacturer.
  • Apart from its core business, it has taken on the management of its money by investing in other avenues that yield strong returns, such as mutual funds, equity – listed and unquoted, and so on.
  • The company has its units located at Roorkee and UNA Himachal Pradesh.
  • Martin & Harris is majorly involved in the manufacturing (Chemicals and other products thereof) business for the last 41 years.
  • Martin & Harris Laboratories Ltd incorporated in 1996 at Gurgaon, Haryana is a part of “Apeejay Group”, India’s oldest and largest business conglomerates.

  • Martin & Harris IPO Details

The company has not filed for DRHP as of now

  • Martin & Harris Subsidiaries

The company has only subsidiary:


Delite Infrastructure Private Limited

Martin & Harris Business Model

Martin & Harris Laboratories Ltd is engaged in the manufacturing of Pharmaceutical, medicinal chemical & botanical products. Besides the core business, it has undertaken the management of its funds through investment in different avenues fetching good returns i.e., mutual funds, equity –quoted & unquoted, etc.

  • Martin & Harris Revenue Segmentation

  • Manufacturing
  • Other income
  • Futures and Options(Derivatives)
  • Martin & Harris Product & Services

Pharmaceutical Products
Bulk Drugs
Medicine (Allopathic)
Clopidogrel
Nicorandil
Losartan Potassium
Metoprolol Tartrate
  • Martin & Harris Assets

Assets of the company as on 31st, March 2021.

ParticularsAmount in Rs. Lacs
Land169.37
Vehicles65.76
Building105.28
Plant and Equipment857.74
Furniture and Fixtures86.51
Computer11.50
Office Equipment11.31
Leasehold Improvement35.86


  • Martin & Harris Industry Overview

Industry Statistics

  • In FY2021, the pharmaceutical sales grew 9% y-o-y to ₹ 10,342 Cr. India contributes the second-largest share of the pharmaceutical and biotech workforce in the world. In FY2021, the pharmaceutical sales grew 9% y-o-y to ₹ 10,342 Cr. India contributes the second largest share of the pharmaceutical and biotech workforce in the world.
  • Indian pharmaceutical sector supplies over 50% of the global demand for various vaccines, 40% of the generic demand for the US, and 25% of all medicines for the UK.
  • During December 2019, on a moving annual total (MAT) basis, industry growth was at 9.8%, with price growth at 5.3%, new product growth at 2.7%, while volume growth at 2% y-o-y.
  • India's biotechnology industry comprising biopharmaceuticals, bio-services, bio-agriculture, bio-industry, and bioinformatics is expected to grow at an average growth rate of around 30% a y-o-y to reach ₹ 7,24,800 Cr by 2025.
  • Indian pharmaceutical sector is expected to grow to ₹ 7,24,800 Cr, while the medical device market is expected to grow by ₹ 1,81,200 in 2025. Pharmaceuticals exports from India stood at ₹ 1,500,54 Cr in FY21. Pharmaceutical export includes bulk drugs, intermediates, drug formulations, biologicals, Ayush and herbal products and surgical.

Future Prospects

  • Medicine spending in India is projected to grow 9-12% over the next five years, leading India to become one of the top 10 countries in terms of medical spending.

Government Initiatives

  • Pharma Vision 2020’ by the Government’s Department of Pharmaceuticals aims to make India a major hub for end-to-end drug discovery. The sector received cumulative Foreign Direct Investment (FDI) worth ₹ 1,19,898 Cr between April 2000 and June 2020.
  • Under Union budget 2020-21, allocation to the Ministry of Health and Family Welfare stands at ₹ 65,012 crores, whereas, ₹ 6,429 crores have been allocated to the health insurance scheme, Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (ABPMJAY).

Martin & Harris Awards & Achievements

Martin and Harris Laboratories Limited,was awarded with "Pharma Excellence Awards-2018" by apex industry chamber ASSOCHAM for best innovation in process & formulation development.

Martin & Harris Strengths

  • Martin & Harris enjoys a High EBITDA & PAT margin compared to its listed peers.
  • Martin & Harris also depicts high CAGR growth in total income compared to peers over the period of 4 years.
  • Debt/ Equity ratio is the lowest and the Asset Turnover ratio is higher compared to peers. 
  • The company’s EBITDA has been increasing at a CAGR of 51.24% from 2017 to 2021.
  • Martin & Harris Laboratories Ltd. has a higher ROCE Ratio. The company’s ROCE Ratio is 61.77% whereas the industry average ROCE is 21.4%.

Martin & Harris Shortcomings

  • The company’s Cash Flow from Operations has been decreasing continuously since FY18 and it stood at INR -179 Cr in FY21, which signifies that the company has not been able to generate cash and the probability of the company requirement of selling its investment or increasing equity or liability is very high.

Martin & Harris Opportunities

  • Increasing cases of COVID-19 infected patients across the globe has led to a rise in clinical chemistry services, especially in the specialized chemistry testing segment. Laboratory testing and pharma demands have increased significantly and continue to grow at a staggering rate to keep pace with suspected cases of COVID-19, thus boosting the market revenue.

Martin & Harris Threats

  • Threats include several factors, such as new generic products that arrive in the market, new regulations, new trade barriers, changes to health insurance regulation, and even the lack of availability of qualified staff.
Martin & Harris Rating

  • RECOMMENDATION

    Strong Buy

  • Martin & Harris Detail Info

Industry Statistics

PUBLIC LIMITED

Registered In

India

last Updated

13/04/2022

Registered Date

22/07/1993

Planify Ticker

M&H

Reg Office: NH-8, Delhi Jaipur Highway, Village, Pachgaon (Fazalwas), Distt. Gurgaon, Haryana

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• 6. Payment will be given in the same account which is linked to demat account or you need to provide the cancelled cheque shows your name to verify. As per SEBI regulations, the transfer of funds in the third party account is not legal and our policy refrain us from doing so.
Note: The price at which we are buying the share is fixed for 3 days. If you cant sell your stock within 3 days, then the price of that day will be applicable when we receive shares in our demat.

Lock-in period of stock_name_auto Unlisted Shares depends upon category of investors.
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• 2. Other Investors (include Retail, HNIs or Body Corporate) lock-in Period of 6 months from the date of listing of IPO of stock_name_auto Unlisted Shares.
This new SEBI rule was introduced in the month of August-2021, wherein the SEBI has reduced the lock-in period previously from 1 year to 6 months to encourage more and more funds to be invested in startups which are going to public or IPO in near future. Reduction of lock-in is seen as big step and after that many PMS funds are advising their clients to invest in Pre-IPO shares to get the benefit of early stage investment.

DIS - Delivery Instruction Slip is the way through which an investor can sell or transfer the stock_name_auto Unlisted Shares from his/her demat account to any other demat account. There are two Types of DIS Slip.
1. Offline-DIS - This is an offline mode of transfer of shares wherein the investors needs to fill DIS form and give it to their broker for transferring the shares. Following are the fields which are required to be filled.
• a. ISIN number of stock_name_auto Unlisted Shares.
• b. Name of stock_name_auto Unlisted Shares
• c. Quantity of stock_name_auto Unlisted Shares
• d. Cosideration Amount
• e. Target DP ID and Client ID
• f. Annexure
2. Online DIS - Some of the broker these days gives facility of transferring the stock_name_auto Unlisted Shares via online DIS. So, please check with your broker whether such facility is available or not. For example: Angel Broking proivdes the facility of Online-DIS from its platform. As an investor he/she simply needs to add a beneficiary into it and send the stock_name_auto Unlisted Shares by filling the details similar to Ofline-DIS.

In the last 4-5 years, the unlisted share market has become quite big and as a result of that, the ticket size has reduced from usual 5-10 Lac to 35-50k in today's scenario. So, via our Planify platform, if somebody wants to buy stock_name_auto Unlisted Shares then minimum investment would be 35-50k.

Yes, buying and selling of unlisted shares in India is 100% legal.

If you sell your shares within 2 years, then you will have to pay Short-term Capital gain on unlisted shares. Short-Term Capital Gain is added in your Income. So, as per individual tax slab you need to pay capital gain tax.

If you sell your shares after 2 years, then you will have to pay Long-term Capital gain on unlisted shares LTCG is 20% with indexation benefits.

Taxes will remain the same irrespective of listing of shares, if bought in unlisted market. Actually, to be eligible for taxes as per listed market, one has to pay STT on buying and selling of shares. But, if you buy in unlisted and sell in listed market, one pay STT only on selling so, taxes of listed market will not be applicable.

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Check credit of stock_name_auto Unlisted Shares Instantly?
• 1.You can download the NSDL or CDSL application from google play-store and check. If you want to check whether your stock broker is registered with NSDL or CDSL then check the following procedure.
• By carefully examining the number format of Demat Account we can easily identify whether the stock broker is registered with CDSL or NSDL.
• Demat Account = DP ID + Client ID. (16 Characters )
• "DP ID is the unique identification of the Broker. Every broker gets a unique number from CDSL or NSDL.By carefully examining the number format of Demat Account we can easily identify whether the stock broker is registered with CDSL or NSDL.
• Client ID is the unique identification of the Client. Every client gets this unique number which represents his/her portfolio.
• In CDSL, all these characters are numbers (1234567891234567) first 8 digits are DP ID and next 8 digits are Client Id whereas in NSDL the first two characters are letters which are in accordance with the country that you are from (IN12345678912345), then 6 unique digits for Broker and next 8 digits are client ID.
• Example:
• CDSL = 12345678(DP ID) and 91234567(Client ID).
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• Check in brokers application?
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The stock_name_auto Unlisted Shares are credited in demat account same day of transferring funds in our company's bank account.

The price of stock_name_auto Unlisted Shares can be checked in two ways. First, you can join our telegram channel where on daily basis we share the latest prices of all the unlisted shares in the morning and secondly, you can register on Planify.live platform to see the historical graphs and prices of all the shares at one place.

If you see the thesis of investment in the unlisted shares then it is being done mainly to take the advantage of IPO market. And, if the IPO plans of company get delayed due to market conditions or any other reason then demand suddenly drops in the market. The unlisted market works mainly on demand and supply and if there is no IPO news then getting exit would be difficult.

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We at Planify do the valuation based on 2 methods.
• 1. We check the last funding that is being done in the stock_name_auto Unlisted Shares to ascertain the benchmark valuation.
• 2. If there is no funding happened in the company, then we try to find a business similar to stock_name_auto Unlisted Shares in the listed space and do comparison method to ascertain the valuation.
As an investor in the unlisted space, we would always recommend that you must check all the risk parameter carefully before investing in the unlisted space.

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Rules and regulations of SEBI are applicable in the Unlisted space like lock-in period of 6 months, paying of Stamp Duty, and DP Charges for every transaction etc. However, to become an unlisted broker there is no such regulation by SEBI as of yet.

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We can generally arrange lot sizes starting with an investment of INR 20,000. To confirm the lot sizes of stock_name_auto Ltd unlisted shares with us.

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